Regional News
January 2014

HONEYWELL has announced that it has been selected by Kuwait National Petroleum Company (KNPC) to provide the Integrated Control and Safety System (ICSS) for its new 615,000 barrel-a-day Al Zour refinery complex to be built in southern Kuwait. Honeywell will also provide the front-end engineering design (Feed) for the system.






January 2014

SPAIN-based Isolux Corsan, a leader in infrastructure projects, has been awarded a contract worth $105 million by Kuwait for the engineering, procurement and construction (EPC) of 172 km of 300 kV transmission lines. The work will take place under a turnkey contract, within a maximum execution period of 22 months, in the town of Al Rawdatain.






January 2014

ABU DHABI National Insurance Company (Adnic), a company with longstanding expertise in providing innovative insurance solutions for clients across the UAE, has entered into an agreement with Dubai Trade to introduce Adnic’s marine e-cargo solution.






January 2014

JEDDAH-based Alkhabeer Capital, a leading investment and asset management firm, has acquired a majority shareholding in UAE’s Express Publishing and Investment Limited (Epil).






January 2014

NAMIBIA has signed an MoU with Utico Middle East, the GCC’s largest private full service utility and solutions provider, for the establishment of a $300 million (Dh1.1 billion) coal-fired power plant in its Okakkura Governorate.






January 2014

DUBAI Silicon Oasis (DSO), the integrated free zone technology park, organised a fire and evacuation drill in collaboration with Dubai Civil Defence at its headquarters to strengthen emergency plans and ensure a smooth and safe evacuation in the eventuality of fire.






January 2014

RAK Ceramics, the world’s largest manufacturer of ceramic and porcelain tiles, has announced that its international ambitions have been stepped up with the roll-out of industry-leading software solutions from SAP across its global manufacturing facilities in China, India and Bangladesh.






January 2014

THE UAE was the 11th biggest importer of clothes in 2012, according to the International trade statistics 2013 report published by the World Trade Organisation (WTO) with total imports of $4 billion constituting 0.8 per cent of the world’s total imports.






January 2014

DUBAI’S Drydocks World has announced its interest in building AJ 62-X135 series of multi-purpose (accommodation and construction)  jackup rigs. The company also highlighted its feat in lifting a 10,000-tonne topside of a semi-submersible and reported it had signed a deal with a Polish firm to investigate areas of mutual cooperation.






January 2014

ROLLS-Royce, the global power systems company, has clinched a strategic contract to supply power generation equipment and related services to Abu Dhabi Marine Operating Company (Adma-Opco) for its offshore project.






January 2014

ABU DHABI probably won’t reach its target for industrial growth by 2020 and will need to lower it, a senior government official has said, according to a Reuters report.






January 2014

AN integrated industrial gases venture will be set up Air Products and Takamul Investment Company in Oman, it was announced recently. Air Products is a global hydrogen provider, and Takamul Investment Company is a subsidiary of the Oman Oil Company.






January 2014

DUBAI Investments (DI), a leading investment company listed on the Dubai Financial Market, has announced that the volume of exports from its various subsidiaries has grown substantially over the last five years, reflecting the potential of manufacturing exports from its companies across multiple sectors.






January 2014

GLASS LLC, the first glass holding company in the Middle East and a wholly-owned subsidiary of Dubai Investments, has announced that its coating lines, comprising subsidiaries Emirates Glass (EGL) and Saudi American Glass (SAG), have won projects exceeding Dh140 million ($38 million) in the last quarter of 2013, amidst a sharp surge in construction






January 2014

SAUDI Arabia’s Dabbagh Group is planning to sell a 19 per cent stake in its lubricants business Petromin ahead of a potential public offering of the unit in 2015, banking sources aware of the matter said, according to Reuters.






January 2014

Bahrain to scrap subsidies THE Bahrain government’s subsidies on asphalt are to be scrapped. The price will be deregulated as of January 1 for lack of economic viability, the National Oil and Gas Authority announced.






January 2014

ABU DHABI’S project spending could balloon to over $100 billion in the next seven years, said the organisers of a major investment summit. The eighth Abu Dhabi Conference 2013, held at Westin Abu Dhabi Golf Resort and Spa, highlighted the key sectors that will receive the bulk of investments until 2020.






January 2014

ABU DHABI’S state-owned fund International Petroleum Investment Company (IPIC) said its net profit surged 6.7 per cent to Dh3.2 billion ($871 million) for the first half from last year’s Dh3 billion helped by the recovery of equity markets.






January 2014

SAUDI Arabian Mining Company (Maaden) has awarded three contracts worth a combined SR8.46 billion ($2.26 billion) to Canadian and Asian companies concerning its new phosphate mining and production project, according to Reuters.






January 2014

YOKOGAWA has announced that its subsidiary, Yokogawa Middle East & Africa, has received an order from Petroleum, Chemicals and Mining Company Limited (PCMC) to supply the control system for the SWRO-4 Desalination Plant, which is being built in Jubail, Saudi Arabia by the Power and Water Utility Company for Jubail and Yanbu (Marafiq).






January 2014

DUBAI-based Coal & Oil Group (C&O) said it has secured additional funding of Dh1 billion ($250 million) to complete its 1,200 MW Independent Power Plant (IPP), presently under construction in India.






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